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FAPCCI claims that tourism and hospitality sectors have been given a raw deal under Central stimulus package

Published on : Tuesday, May 19, 2020

The tourism and hospitality sectors have been given a raw deal in the Central stimulus package under the Atmanirbhar Bharat Abhiyan, claimed Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) President C.V. Atchut Rao.

“The tourism and hospitality sectors are disappointed towards the attitude of the Centre. The sectors, considered to be major contributor to economic growth and job creation, are the worst hit by the COVID-19 which is ensuring closure of businesses and mass unemployment,” said Mr. Atchut Rao.

The pandemic is believed to have affected around 70 % of the total estimated workforce of 5.5 crore in the tourism industry. Around 15 lakh foreign tourists are believed to have cancelled their trips in the past two months, Mr. Rao said.

“The total tourism business in India is estimated to be US$28 billion including Rs. 2 lakh crore generated from domestic tourism and the loss of foreign exchange has been put at Rs. 15,000 crore,” he said.

The tourism and hospitality sectors stand the risk of economic slowdown, natural disasters and exchange rates among others. The small and medium-sized businesses in tourism sector are most at risk, along with those depending on tourism in the most affected parts of the world like Italy, Spain etc.